PSALM to bundle land in sale of Malaya thermal-power plant
- Aug 20, 2018 3:42 pm GMT
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Located in Pililia, Rizal, the Malaya plant consists of a 300-MW unit with a once-through type boiler and a 350-MW unit fitted with a conventional boiler.
'We got a direction from the
Garcia said the
'There is a policy direction from the DOF to also get the view of a third-party valuator so that we are not open to questions. It's also important we hire somebody whose expertise is to value assets. So while we have a department in PSALM that handles valuation, it is also good to get the input of a third-party valuator who can give us the fair market value at current price.'
PSALM is determined to sell the power plant within the year, possibly in November.
'Not later than the end of the year, but it's going to happen in the fourth quarter,' she said.
The MTPP will be privatized on as-is, where-is basis with the following considerations:
a. The limited capacity of MTPP may not adversely affect the demand-supply situation in 2019. Hence, MTPP is no longer required by the
b. PSALM will exert utmost effort to ensure that the remaining capability of operating units can be maximized when needed while the privatization process is ongoing.
The MTPP was earlier designated as an MRU by the
Now, Garcia said, 'the
In the past, PSALM postponed the auction for the plant, which was supposed to be sold to four interested bidders who earlier submitted letters of interest. The four bidders are
The four bidders submitted letters of interest on
'We have to conduct a new bidding. It's not a continuation of the earlier process. But to be fair to those who purchased bidding materials, we are actually going to credit them the amount they already paid for the bidding documents,' she said.